6. Be open and understandable in communications
Companies must be able to communicate clearly the benefits and potential risks of their products and the actions they have taken to deliver benefits and avoid, minimise, or mitigate the risks. They must ensure that processes are in place to address the concerns and complaints of users and other parties, and that these are transparent. The Ethics Committee believes that effective communication, when coupled with a principled approach to ethical considerations, is a competitive advantage, and will lead to progress even when hard moral issues are on the line. Conversely, poor communication, and a lack of attention to the social and ethical environment for doing business, can result in adverse public reactions, direct legal repercussions as well as mounting regulation, and hence increased costs and higher rates of failure.